TrakLoan is a loan management software for local and regional development companies. It streamlines loan processes for businesses, while enabling companies to borrow from government or other agencies. Developed over two years, TrakLoan is highly targeted and efficient.
TrakLoan is a software program designed to manage loans for local and regional development companies. This system was developed and tested over a two-year period by Peak InfoSystems, Inc. at Pikes Peak Regional Development Company in Colorado Springs, Colorado.
The program operates as a database for account tracking, loan types, and payment and disbursement tracking. The TrakLoan operator can enter payments or disbursements into the journal at various times during the month or other fiscal period, and then click the Post Journal button at the end of each session. TrakLoan will post the journal entries and provide a detailed report that shows the status of each loan before and after posting.
Each account is listed on the posting report. For accounts that had transactions during the period, each transaction is listed showing days since the last transaction, transaction amount, interest accrued, interest paid, principal paid, unpaid interest due, and the current principal balance. If an account had no transactions during the period, TrakLoan will compute the accrued interest, print it, and add it to the unpaid interest total. All accounts are updated as of the posting date to provide an accurate figure for accrued interest.
The system provides a summation of totals for each loan type of interest accrued, interest paid, principal paid, current loan balance, and unpaid interest. The journal is erased after posting and made ready for the next fiscal period's entries.
TrakLoan has additional features, including a payout calculator for any given date, overdue account tracking and a listing of accounts with overdue payments, and the ability to print IRS forms 1098 and mailing labels. Overall, TrakLoan is a comprehensive loan management system suitable for local and regional development companies.
The program operates as a database for account tracking, loan types, and payment and disbursement tracking. The TrakLoan operator can enter payments or disbursements into the journal at various times during the month or other fiscal period, and then click the Post Journal button at the end of each session. TrakLoan will post the journal entries and provide a detailed report that shows the status of each loan before and after posting.
Each account is listed on the posting report. For accounts that had transactions during the period, each transaction is listed showing days since the last transaction, transaction amount, interest accrued, interest paid, principal paid, unpaid interest due, and the current principal balance. If an account had no transactions during the period, TrakLoan will compute the accrued interest, print it, and add it to the unpaid interest total. All accounts are updated as of the posting date to provide an accurate figure for accrued interest.
The system provides a summation of totals for each loan type of interest accrued, interest paid, principal paid, current loan balance, and unpaid interest. The journal is erased after posting and made ready for the next fiscal period's entries.
TrakLoan has additional features, including a payout calculator for any given date, overdue account tracking and a listing of accounts with overdue payments, and the ability to print IRS forms 1098 and mailing labels. Overall, TrakLoan is a comprehensive loan management system suitable for local and regional development companies.
What's New
Version 1.1.2: N/A